How to merge, make deposits and reconcile bank account with many sub accounts.

In QBO Advanced, merging bank accounts and sub-accounts while maintaining accurate balances can be tricky, especially after a major bank transition.

Since the old accounts were merged, it sounds like duplicate transactions might have been created in the new sub-accounts. To fix this, first, check the Bank Register for duplicate transactions and remove any manually entered duplicates that don’t match actual bank feeds.

Next, go to Banking -> For Review and carefully match transfers and deposits to avoid adding them twice. If necessary, use Journal Entries to adjust balances by debiting/crediting the correct accounts.

Lastly, reconcile the new parent account and sub-accounts by matching them to bank statements to ensure everything aligns correctly.

I can see you're facing a complex challenge with merging multiple bank accounts into a single parent account in QuickBooks Online Advanced, particularly with the issue of duplicated funds appearing in sub-accounts post-merge, @diverkathy. I'm here to guide you through correctly merging these accounts, making accurate deposits, and effectively reconciling these changes to ensure your nonprofit's financial data is precise and up-to-date. 

Firstly, you'll have to ensure that all funds from the 17 old bank accounts, along with their 40 sub-accounts, are accurately transferred and reflected in the new parent bank account setup. When setting up your new Chart of Accounts (COA), create appropriate sub-accounts under the main parent account for each division to keep funds tracked separately. If transferring created duplicates in your COA, merge any duplicated sub-accounts by renaming one to match the other; QBO will prompt you to merge these, combining their histories.

Here's how:

1. On the upper right corner, look for the Gear icon.
2. Select Chart of accounts.
3. Find the account you want to keep. Then, select the dropdown in the Action column and then Edit.
4. Note the Account Name, Account Type, and Detail Type of the account. These must be the same between the accounts you want to merge.
5. Go back to the Chart of accounts.
6. Locate the duplicate account (the one you won't be keeping). Then, select the dropdown in the Action column and click Edit.
7. Change the Account name and Detail Type so the duplicate account's info matches the account you want to keep.
8. Once you're ready, select Save, and then Yes, merge accounts.

To record and make bank deposits, you can create deposits for the parent account or individual subaccounts as needed. Ensure you select the correct account when recording transactions:

1. On the upper left corner, click the + New button.
2. Select Bank Deposit.
3. From the Account dropdown, choose the account you want to put the money into.
4. Choose the checkbox for each transaction you want to combine.
5. Ensure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
6. Once done, hit Save and close or Save and new.

Finally, reconcile only the new parent account as all transactions from subaccounts roll up into it. For more information about the process, refer to this: Reconcile an account in QuickBooks Online.

Additionally, reconcile your accounts in QBO regularly (every month). This helps monitor your income and expense transactions and detect possible errors accordingly. You can check this article on doing and fixing reconciliations in QBO: Learn the reconciliation workflow in QuickBooks.

To enhance the efficiency of your accounting practices and ensure impeccable financial records, I highly recommend considering QuickBooks Live Bookkeeping. This service provides direct support tailored to meet the unique needs of your business, ensuring accuracy and comprehensiveness in your financial data. By delegating these crucial tasks, you can reclaim valuable time and focus more effectively on strategic areas that drive business growth and success. 

If you have any other banking and reconciliation concerns in QuickBooks Online, please feel free to drop a comment below. I'm here to support you every step of the way. Take good care, @diverkathy. I look forward to helping you achieve your financial management goals.